The Hangzhou Yuhang Economic Development Area (HYEDA, simplified Chinese: 杭州余杭经济技术开发区; traditional Chinese: 杭州余杭經濟技術開發區; pinyin: Hángzhōu Yúháng Jīngjì Jìshù Kāifā Qū), also known as the Qianjiang Economic Development Area (simplified Chinese: 钱江经济开发区; traditional Chinese: 錢江經濟開發區; pinyin: Qiánjiāng Jīngjì Kāifā Qū), is an economic and technological development area in Yuhang District of Hangzhou, Zhejiang, China.
The Hangzhou Yuhang Economic-Technological Development Area was formed in November 1993.[1] On July 30, 2012, it became a national-level economic and technological development area.[2] In 2015, the Hangzhou Yuhang Economic-Technological Area combined with the Qianjiang Economic Development Area covering a combined total of 76.94 square kilometres. In 2017, it jumped 48 places from the previous year ranking 77th out of China's 219 national economic and technological development areas.[3]
By the end of 2016, there were more than 270 enterprises exceeding CNY¥20 million in annual revenue[4] and 19 publicly traded companies.[5] In 2016, the industrial output value exceeded CNY¥50 billion, and the total fiscal tax revenue was CNY¥4.07 billion.[citation needed]
The Hangzhou Yuhang Economic-Technological Development Area's strategic focus is on five core industries and their integration with the internet:[6]
The Hangzhou Yuhang Economic-Technological Development Area is located at the heart of the Yangtze River Delta economic circle. It is 39 minutes away from Shanghai by high-speed train, 39 km (about a 25 minutes drive) away from Hangzhou Xiaoshan International Airport, 150 km (about a 1.5-hour drive) away from Shanghai Hongqiao Airport, and 170 km (about a 2-hour drive) away from Ningbo Airport. It is also connected with Hangzhou Metro Line 1 with plans for Line 3, 9, and 12 when completed.